Also really loved (all of) your post. Just had a two questions though, wondering what your take on it would be :)
1) In the earlier days, indeed, when an ICO was done, retail was relatively early so you can consider it similar to Series A. Then my question, if the founding team needed more funding (e.g. to hire/reward more devs), would they then mint new tokens & sell them to the public/VC, thereby diluting current tokenholders? How does/did this work in practice?
2) Nowadays, you see that ICO's happen at a later stage of the project. VC's are now investing more and more, and projects doing funding Series B, C, D etc before doing an ICO. This would be much more similar to the current stock market I think. This has of course upsides (better product, more funding to optimize the project) and downsides: retail pays a relatively high price, at lot of value has already been extracted by VCs, and much of the voting power is concentrated at these funds. How would you look at this?
Anyways, just curious how this would work. Many thanks for all your insights, helped a lot to gain more clarity!
Hello there, thanks for the post, I think you hit the point in your final words, BTC maxis can´t resist to attack web3 development because of the purity of bitcoin. I believe that both worlds must coexist, actually all the web3 deployment is only increasing the BTC legend... but it is true that the dominance of bitcoin is going down in the increase of more web3 dapps. Let´s see how this evolve.
Hi Micheal,
Also really loved (all of) your post. Just had a two questions though, wondering what your take on it would be :)
1) In the earlier days, indeed, when an ICO was done, retail was relatively early so you can consider it similar to Series A. Then my question, if the founding team needed more funding (e.g. to hire/reward more devs), would they then mint new tokens & sell them to the public/VC, thereby diluting current tokenholders? How does/did this work in practice?
2) Nowadays, you see that ICO's happen at a later stage of the project. VC's are now investing more and more, and projects doing funding Series B, C, D etc before doing an ICO. This would be much more similar to the current stock market I think. This has of course upsides (better product, more funding to optimize the project) and downsides: retail pays a relatively high price, at lot of value has already been extracted by VCs, and much of the voting power is concentrated at these funds. How would you look at this?
Anyways, just curious how this would work. Many thanks for all your insights, helped a lot to gain more clarity!
Kr,
Jeroen
Hello there, thanks for the post, I think you hit the point in your final words, BTC maxis can´t resist to attack web3 development because of the purity of bitcoin. I believe that both worlds must coexist, actually all the web3 deployment is only increasing the BTC legend... but it is true that the dominance of bitcoin is going down in the increase of more web3 dapps. Let´s see how this evolve.